Okay, so you’re clipping coupons, you’re eating out less and you’re buying fewer new clothes. What else can you do to save some bucks? Financial guru Dave Ramsey says there is 1 thing you can do to get the really good deals and save yourself some serious cash.
You must learn to negotiate to get the really big bargains. Dave Ramsey shows you how. The following is adapted from his book, Financial Peace.
Everything you buy is negotiable at some time, at some place, and you must find it. The days of impulse buying are over.
The Basics of Negotiating:
1. Always tell the truth. There is never enough money to be made or lost on a deal to warrant a lack of integrity.
2. Use the power of cash. People get silly when they see cash. There is something highly emotional about flashing cash when making a purchase. If you are buying a big ticket item, do it in cash. Count out the bills slowly and dramatically. $5,000 in $100 bills can have a big impact in getting someone to take your cash offer instead of their list price.
3. Understand and use “Walk Away Power”. You must be prepared to walk away and not make the purchase. If the seller senses that you are committed to that purchase, you will receive no discounts.
4. Shut Up. We all talk too much. When faced with a purchase, we sense the inherent confrontation, get nervous, and talk too much. If you will simply shut up, people will talk themselves out of more than you will ever talk them into.
5. “That is not good enough”. When the price is given, you should reply. “That is not good enough. What can you really do?” You will see the price drop, sometimes lower than you would have offered. Instead of your giving a lower offer you should try using this approach and see what happens.
6. Good Guy—Bad Guy. I am sure you have heard a salesman say, “Let me check with my manager on your offer.” When he comes back, he says the manager just won’t go along with your offer. You should not let them use this on you. Use it on them. You can say, “I don’t know about that price, my husband wouldn’t like it.”
Taken with permission from Dave Ramsey.